Strongbridge Biopharma (NASDAQ:SBBP) Trading Down 8.3%


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Strongbridge Biopharma plc (NASDAQ:SBBP) traded down 8.3% during trading on Tuesday . The stock traded as low as $3.21 and last traded at $3.32. 1,235,161 shares were traded during trading, an increase of 43% from the average session volume of 862,767 shares. The stock had previously closed at $3.62.

Several research analysts have commented on the stock. HC Wainwright reiterated a “buy” rating and set a $10.00 price target on shares of Strongbridge Biopharma in a report on Thursday, January 7th. Zacks Investment Research upgraded shares of Strongbridge Biopharma from a “hold” rating to a “buy” rating and set a $3.00 price target for the company in a report on Wednesday, December 16th. Five research analysts have rated the stock with a buy rating, Strongbridge Biopharma presently has an average rating of “Buy” and an average price target of $6.30.

The firm’s fifty day moving average price is $3.03 and its 200-day moving average price is $2.78. The company has a current ratio of 4.51, a quick ratio of 4.45 and a debt-to-equity ratio of 0.10. The firm has a market cap of $223.25 million, a price-to-earnings ratio of -3.80 and a beta of 1.91.

Hedge funds have recently added to or reduced their stakes in the stock. Morgan Stanley raised its position in Strongbridge Biopharma by 40.6% in the 3rd quarter. Morgan Stanley now owns 1,898,968 shares of the biotechnology company’s stock valued at $3,988,000 after purchasing an additional 548,737 shares during the last quarter. ExodusPoint Capital Management LP acquired a new stake in Strongbridge Biopharma in the 3rd quarter valued at about $107,000. Squarepoint Ops LLC acquired a new stake in Strongbridge Biopharma in the 3rd quarter valued at about $27,000. Strs Ohio grew its stake in Strongbridge Biopharma by 77.1% in the 3rd quarter. Strs Ohio now owns 179,000 shares of the biotechnology company’s stock valued at $375,000 after acquiring an additional 77,900 shares during the last quarter. Finally, Wells Fargo & Company MN grew its stake in Strongbridge Biopharma by 19.7% in the 3rd quarter. Wells Fargo & Company MN now owns 142,568 shares of the biotechnology company’s stock valued at $300,000 after acquiring an additional 23,469 shares during the last quarter. Hedge funds and other institutional investors own 58.27% of the company’s stock.

Strongbridge Biopharma Company Profile (NASDAQ:SBBP)

Strongbridge Biopharma plc, a commercial-stage biopharmaceutical company, focuses on the development and commercialization of therapies for rare diseases with unmet needs. The company offers Keveyis, an oral carbonic anhydrase inhibitor for treating hyperkalemic, hypokalemic, and related variants of primary periodic paralysis in the United States.

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